Under Armour has signed a multi-year deal with the University of California-Berkley as reported by ESPN’s Darren Rovell. The deal will begin with the 2017-18 season.
The new partnership spans 10 years and is detailed to be worth $86 million in cash and products. This also includes a $3 million signing bonus. What’s more, $3.5 million in cash per year alongside an average annual product allowance of $4.76 million.
The bigger story here, though, is that the Cal Bears were previously a Nike school. In fact, just a short time ago the team received player exclusives for the NCAA Tournament. But the new UA deal is reportedly much more lucrative than that of Nike’s.
In the closing year of the Nike contract, Cal would receive $2 million in product and $150,000 in cash. Obviously from the new numbers listed above, this is substantially less.
The Under Armour x Cal Bears deal will outfit the school’s 34 official club sporting teams. UA CEO Kevin Plank made a statement with regards to the new deal, “That we’ve aligned ourselves with these types of schools is no accident.”
This news, coming just a day after their impressive first quarter 2016 earnings, sees things continue to trend upwards to Under Armour.
